BSLI Classic Child Plan

 

BSLI Dream Child Plan

 

BSLI Bachat (Child) Plan

 

 

 

 
A child is a source of joy for every parent. You work towards ensuring that you have the means to meet the big future expenses of your child, be it for higher education, marriage or any other dreams that you have for your child.  

Birla Sun Life Insurance Children’s Future Solutions are designed to help you build a corpus that allows you to meet the major expenses of your child in future. Besides providing you life cover to ensure that your child’s dream is secured, they also offer you the choice of guaranteed returns or the flexibility to manage your fund options to make your money grow as per your needs.

To know more about our plans and to get recommendations on the plan best suited to your needs, call for a Birla Sun Life Insurance Financial Advisor.
BSLI Classic Child Plan

When it comes to planning for your child's future, you wish for a plan that secures your their future and also gives you the flexibility to manage your savings. Presenting the BSLI Classic Child Plan - a plan that secures your child's future, and gives you the freedom to direct your savings to our range of 10 Investment Funds.   This plan offers you:  

Joint life cover for you and your child

Flexibility of growing your savings through 10 Investment Funds, as per your risk appetite

Enhanced financial security for your loved ones

  How BSLI Classic Child Plan works:

  1. You choose the Savings Date that suits your financial goals for your child.
  2. Your Policy Term will be the Savings Date + 20 years.
  3. You choose the Basic Premium you want to pay every year.
  4. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the primary life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by:
    • The higher of 10 or the number of years to maturity divided by 2, for entry ages below 45; or
    • The higher of 7 or the number of years to maturity divided by 4, for entry ages 45 and above
  5. You have an option to choose an Enhanced Sum Assured and increase the financial security for your child's future. With this option you can choose any amount of additional life cover over and above the Basic Sum Assured at a nominal cost.
  6. You have an option to choose from our range of riders and customise your family's future financial security.

  Based on your above choices you will receive a host of benefits as below:  

  1. Maturity Benefit: You will receive the Fund Value at maturity.
  2. Death Benefit: In case of the unfortunate demise of the primary life insured while the policy is in effect, we will pay to the beneficiary the Basic Sum Assured. The policy will continue as long as the secondary life insured is alive.
    Prior to the Savings Date:
    • In case of the unfortunate demise of the primary life insured (grand / parent), we will pay the Basic Sum Assured plus Enhanced Sum Assured, if any, and all future Basic Premiums in monthly installments starting from the next policy month
    • In case of the unfortunate demise of the secondary life insured (child), we will terminate the policy on the Savings Date and pay the Fund Value as on that date
    • In case of the unfortunate demise of the secondary life insured (child), we will terminate the policy on the Savings Date and pay the Fund Value as on that date


Starting from the Savings Date:

    • In case of the unfortunate demise of the primary life insured (child), we will pay the Basic Sum Assured
    • In case of the last unfortunate demise of the primary or secondary life insured, we will terminate the policy and pay the Fund Value
  1. Enhanced Sum Assured: Based on your needs you can increase the life cover over and above the Basic sum Assured by opting for the Enhanced Sum Assured at inception. You can choose any amount of Enhanced Sum Assured, subject to a minimum of Rs. 50,000 and not exceeding Basic Sum Assured.
  2. Joint Life Benefit: This is a joint life insurance policy where the grand/parent is the primary life insured and the child is the secondary life insured. On the Savings Date, the child becomes the primary life insured and the grand / parent becomes the secondary life insured.
  3. Surrender Benefit: In case of emergency fund requirements, you can surrender your policy after the completion of five policy years, and receive the Fund Value at that time. Prior to Savings Date, in situations where the primary life insured (grand / parent) is dead, the secondary life insured (child) can surrender the policy anytime after attaining age 18.
  4. Top-up Premium: If you wish to increase your investment in the policy, you have the freedom to invest additional amounts to your premium as top-up premiums, anytime during the policy term, except in the five years prior to maturity and as long as all due policy premiums have been paid. The minimum top-up premium is Rs. 5,000 and your Basic Sum Assured will be automatically increased. For more details please refer to our brochure.
  5. Guaranteed Additions: Your policy enjoys a boost in form of additional units. For more details on the guaranteed additions, please contact your financial advisors or refer to our brochure.
  6. Partial Withdrawals: You can make unlimited partial withdrawals to meet any financial emergencies any time after (a) five complete policy years or (b) secondary life insured attaining the age of 18, whichever is later.
  7. Policy Loans: You can also avail loans on your policy.

  Self-Managed Option - The flexibility to direct your savings in our range of 10 funds   The Self-Managed Option gives you complete access to invest your premiums in our well established suite of 10 investment funds, ranging from 100% debt to 100% equity. You also enjoy full freedom to switch from one investment fund to another, as per your changing requirements.  

Choose from our range of 10 Investment Funds, to suit your risk appetite

Allocate your savings the proportion of your choice

Change your allocations as per your changing requirements

Choose from our Rider options to increase the financial security of your loved ones   Critical Illness Rider: On diagnosis of any of the four illnesses - Heart Attack, Cancer, Major Organ Transplant and Stroke, you will receive upto 100% of the Rider Sum Assured.   Accidental Death and Disability Rider: In the event of death due to an accident, your nominee will receive the chosen Rider Sum Assured up to a maximum of Rs. 50,00,000. In the event of disability due to an accident you will receive a fixed percentage of the Rider Sum Assured, depending on the type of injury.   Hospital Care Rider: In the event that you are hospitalised for treatment, you will receive Daily Cash Benefit to take care of your expenses. In case you are treated in an Intensive Care Unit you will receive an Enhanced Daily Cash Benefit. To help you cover your recuperation expenses, you will be paid a lump sum amount, in case you are hospitalised for more than seven days for the same disease.   Surgical Care Rider: In case you are hospitalised to undergo a surgery you will be paid a lump sum amount to cover your expenses.   For more details on any of the riders mentioned above, please consult your BSLI financial advisor or refer to the rider brochure.   Plan Summary  

Entry Age – Grand/Parent – Child

18 – 65 years, provided age on Savings Date is 75 or less
30 days – 17 years

Savings Date

Child’s age 18 – 27, subject to minimum of 10 policy years

Policy Term

Savings Date + 20 years

Basic Premium

Minimum Rs. 25,000 p.a. if paid annually
Minimum Rs. 30,000 p.a. if paid monthly, quarterly or semi-annually

Pay Term

Years to Savings Date

Top-up Premium

Minimum Rs. 5,000

Enhanced Sum Assured

Minimum Rs. 50,000
Not exceeding Basic Sum Assured

Insurance Dictionary  


Premium: The periodic payments made to acquire the insurance and maturity benefits

Policy Term: Total benefit tenure of the policy

Policy Surrender; Voluntary closure of policy before completion of policy term/td>

Maturity Benefit; The final amount which the customer receives at the end of policy term

Rider: Additional protection for an extra premium on the base policy

  Disclaimer
Birla Sun Life Insurance - BSLI Classic Child Plan - Income Advantage, Assure, Protector, Builder, Enhancer, Creator, Magnifier, Maximiser, Multiplier and Super 20 - are only the names of the Company, Policy and Investment Funds respectively and do not in any way indicate the quality of the policy, investment funds or their future prospects or returns. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of solicitation. Investment risk in the investment portfolio is borne by the policy holder. For more details refer to product brochure. Regd. Office: One Indiabulls Centre, Tower 1, 15th & 16th floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Reg No. 109 Unique No.: 109L066V01 ADV / 11 / 10-11 / 4297 Version No.: VER 1 / Nov / 2010
  UIN No. - 109L066V01

BSLI Dream Child Plan

The best education, a successful career, a business start-up or wedding plans… when it comes to planning for your child's future; you want to ensure that these dreams are fulfilled under all circumstances. Presenting the BSLI Dream Child Plan - a plan that gives you a Guaranteed Savings Amount on the date of your choice to fulfill your child's dreams and a range of options to enhance the financial security of your loved ones.   This plan offers you:

  • Guaranteed Savings Amount on date of your choice
  • Joint life cover for you and your child
  • Enhanced financial security for your loved ones

  How BSLI Dream Child Plan works:

  1. You choose the Guaranteed Savings Date that suits your objectives. Your Guaranteed Savings Date is the policy anniversary when your child's attained age is from 18 to 27 years, subject to a minimum of 10 policy years.
  2. Your Policy Term will be your Guaranteed Savings Date + 20 years.
  3. You decide the Basic Premium you want to pay every year.
  4. You will receive Basic Sum Assured which is the minimum death benefit payable on the demise of the primary life insured. The Basic Sum Assured is automatically determined as your Basic Premium multiplied by:
    • The higher of 10 or the number of years to maturity divided by 2, for entry ages below 45; or
    • The higher of 7 or the number of years to maturity divided by 4, for entry ages 45 and above
  5. You have an option to choose an Enhanced Sum Assured to increase the financial security for your loved ones. With this option you can choose any amount of additional life cover over and above the Basic Sum Assured at a nominal cost.
  6. You have an option to choose from our range of riders to further customise the financial security of your loved ones.

  Based on your above choices, you will receive a host of benefits as below:

  1. Maturity Benefit: You will receive the Fund Value at maturity.
  2. Death Benefit: In case of the unfortunate demise of the primary life insured during the policy term, the beneficiary will receive the Basic Sum Assured. The policy will continue as long as the secondary life insured is alive.

Prior to the Guaranteed Savings Date:

    • In case of the unfortunate demise of the primary life insured (grand / parent), we will pay the Basic Sum Assured plus Enhanced Sum Assured, if any and all future Basic Premiums, in monthly installments starting from the next policy month
    • In case of the unfortunate demise of the secondary life insured (child), we will terminate the policy on the Guaranteed Savings Date and pay the Fund Value as on that date
    • In case of the last unfortunate demise of either the primary or secondary life insured, we will terminate the policy and pay the Fund Value plus the commuted value of all future Basic Premiums that are being paid by us


Starting from the Guaranteed Savings Date:

    • In case of the unfortunate demise of the primary life insured (child), we will pay the Basic Sum Assured
    • In case of the last unfortunate demise of the primary or secondary life insured, we will terminate the policy and pay the Fund Value
  1. Enhanced Sum Assured: Based on your needs you can increase the life cover over and above the Basic Sum Assured by opting for the Enhanced Sum Assured at inception. You can choose any amount of Enhanced Sum Assured, subject to a minimum of Rs. 50,000 and not exceeding Basic Sum Assured.
  2. Joint Life Benefit: This is a joint life insurance policy where the grand / parent is the primary life insured and the child is the secondary life insured. On the Guaranteed Savings Date, the child becomes the primary life insured and the grand / parent becomes the secondary life insured.
  3. Surrender Benefit: In case of emergency fund requirements, you can surrender your policy after the completion of five policy years, and receive the Fund Value at that time.
  4. Guaranteed Additions: Your policy enjoys a boost in the form of additional units. For more details on the guaranteed additions, please contact your financial advisors or refer to our brochure.
  5. Partial Withdrawals: You can make unlimited partial withdrawals to meet any financial emergencies any time after (a) five complete policy years or (b) secondary life insured attaining the age of 18, whichever is later.
  6. Policy Loans: You can also avail loans on your policy.

  Choose from our Rider options to increase the financial security of your loved ones   Critical Illness Rider: On diagnosis of any of the four illnesses - Heart Attack, Cancer, Major Organ Transplant and Stroke, you will receive upto 100% of the Rider Sum Assured.   Accidental Death and Disability Rider: In the event of death due to an accident, your nominee will receive the chosen Rider Sum Assured up to a maximum of Rs.50,00,000. In the event of disability due to an accident you will receive a fixed percentage of the Rider Sum Assured, depending on the type of injury.   Hospital Care Rider: In the event that you are hospitalised for treatment, you will receive Daily Cash Benefit to take care of your expenses. In case you are treated in an Intensive Care Unit you will receive an Enhanced Daily Cash Benefit. To help you cover your recuperation expenses, you will be paid a lump sum amount, in case you are hospitalised for more than seven days for the same disease.   Surgical Care Rider: In case you are hospitalised to undergo a surgery you will be paid a lump sum amount to cover your expenses.   For more details on any of the riders mentioned above, please consult your BSLI financial advisor or refer to the rider brochure.  

 

Entry Age - Grand/Parent- Child

18 - 65 years, provided age on Guaranteed Savings
Date is 75 or less 30 days - 17 years

Guaranteed Savings Date

Child's age 18 - 27, subject to minimum of 10 policy years

Policy Term

Guaranteed Savings Date + 20 years

Basic Premium

Minimum Rs. 12,000 p.a. if paid annually

 

Minimum Rs. 15,000 p.a. if paid semi-annually

 

Minimum Rs. 20,000 p.a. if paid quarterly

 

Minimum Rs. 24,000 p.a. if paid monthly

Pay Term

Years to Guaranteed Savings Date

Enhanced Sum Assured

Minimum Rs. 50,000

 

Not exceeding Basic Sum Assured

 

Insurance Dictionary   Premium: The periodic payments made to acquire the insurance and maturity benefits   Policy Term: Total benefit tenure of the policy   Policy Surrender: Voluntary closure of policy before completion of policy term   Maturity Benefit: The final amount which the customer receives at the end of policy term   Rider: Additional protection for an extra premium on the base policy  

 

Disclaimers
Birla Sun Life Insurance - BSLI Dream Child Plan - Enhancer - are only the names of the Company, Policy and Investment Fund respectively and do not in any way indicate the quality of the policy, investment fund or their future prospects or returns. The premium paid in unit linked life insurance policies are subject to investment risk associated with capital markets and the unit price of the units may go up or down based on the performance of investment fund and factors influencing the capital market and the policyholder is responsible for his/her decisions. Tax benefits are subject to changes in the tax laws. Insurance is the subject matter of solicitation. Investment risk in the investment portfolio is borne by the policy holder. For more details refer to product brochure. Regd. Office: One Indiabulls Centre, Tower 1, 15th & 16th floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Reg No. 109 Unique No.: 109L065V01 ADV / 7 / 10-11 / 4061 Version No.: VER 1 / Nov / 2010
  UIN No - 109L065V01

BSLI Bachat (Child) Plan

Like any responsible and loving parent, you want only the best for your child. While you save regularly to provide the best of education, shouldn't you also be able secure your child's bright future from any unforeseen circumstance? Presenting BSLI Bachat (Child) Plan - a plan that secures your child's future even in the event of an untimely demise of the life insured.   BSLI Bachat (Child) Plan - A step-by-step savings plan   The BSLI Bachat (Child) Plan secures your child's future by helping you build funds through regular savings. In the event of an untimely demise of the life insured, BSLI will pay all remaining premiums so that your policy continues. Also, your savings will continue to grow through the term of the policy.  

  • Grow your regular savings
  • Policy continuance
  • Safety and liquidity
  • Tax savings

  How BSLI Bachat (Child) Plan secures your child's future vis-à-vis other investment avenues:   It is very important to choose an investment option suited to your requirements. At BSLI, we understand that it could be difficult for you to pick out an investment avenue that's optimum for you. Here's presenting a simple comparison and evaluation for your convenience.  

 

Safety

Small Savings

      Liquidity

Life Cover

Bank Fixed Deposits

Yes

Yes

Yes

No

Public Provident Fund

Yes

Yes

No

No

Post Office Time Deposits

  Yes

Yes

No

No

National Savings Certificates

Yes

Yes

No

No

BSLI Bachat (Child) Plan

Yes

Yes

Yes

Yes

  BSLI Bachat (Child) Plan is a regular savings plan that helps you secure your child's future under all circumstances   How BSLI Bachat (Child) Plan works:   For Bachat Child Plan, the Bachat Addition Rate is used to determine the Bachat Addition a client will earn during the upcoming year.  

Band

I

II

III

For policies with MBP (in Rs.)

400 to 599

600 to 899

900 +

Bachat Addition Rate
(as of April 1,2011)

5.00%

5.25%

5.50%

    In addition, you pay a Policy Continuation Premium to ensure continuation of the policy till maturity in case of death of the life insured during the policy term.   Policy Continuation Premium (fixed additional premium)  

Entry Age

13 to 40

41 to 50

Sum Assured

180 x MBP

120 x MBP

  Once you have chosen your premium amount, you receive a series of benefits as follows:  

  1. You will get a life cover for the financial security of your family.
  2. You stand to receive premium rebates for choosing annual and semi-annual mode of payment. You get a rebate of 4% if you choose
    to pay annually, and 2% for semi-annually.
  3. Your policy continues till maturity, as you planned to secure your child's future in case of an untimely demise.
  4. On maturity, you will receive a lump sum which you can use to fulfill your child's dreams and goals.
  5. You have the advantage of liquidity on your savings to access your money any time you need it after three policy years.
  6. You have the option of double life cover in case of accidental death, for a nominal additional premium, to ensure enhanced financial
    security of your family

  What are the benefits of BSLI Bachat (Child) Plan?   Maturity Benefit - On maturity after 20 years, you will receive  

  • All Monthly Base Premiums paid; plus
  • All Bachat Additions earned; plus
  • The Loyalty Addition; less

  Death Benefit - In the unfortunate event of death of the life insured, the nominee shall receive  

  • Sum Assured will be paid to the nominee immediately;
  • Future premiums will be waived and the policy continues until maturity. On maturity, your child will be entitled to maturity benefits. This ensures that even in your absence your child's future is assured;
  • All Bachat Additions and Loyalty Addition will continue as if all MBPs are paid when due.

  Surrender Benefit -Once 36 MBPs have been paid, you may surrender your policy and receive  

  • All Monthly Base Premiums paid from the 2nd year onwards x the surrender factor below; plus
  • After the 10th policy year, all Bachat Additions earned; plus
  • After the 15th policy year, the Loyalty Addition earned

  The surrender factor is 100% after completing 10 policy years, otherwise it is  

Policy Year of Surrender

3

4

5

6

7

8

9

10+

Surrender Factor

30%

40%

50%

60%

70%

80%

90%

100%

  Accidental Death Benefit - Optional Rider for Entry Ages 18 to 50   For an extra 1.2% of MBP additional Sum Assured is paid in case of accidental death.  

  • Extra 180 x MBP payable in case death is accidental for entry ages 18 to 40.
  • Extra 120 x MBP payable in case death is accidental for entry ages 41 to 50.

   


Policy

Base Premium

Bachat Addition

Loyalty

Total Addition

Surrender Benefit

Year

Annual

Paid

Earned

Payable

Addition

payable on
Surrender

Gtd

Total

 

 

 

 

 

 

 

 

 

[a]

[b]

[c]

[d]

[e]

[f]

[g]

[h]

1

6,000

6,000

300

---

---

---

---

---

2

6,000

12,000

600

---

---

---

---

---

3

6,000

18,000

900

---

---

---

3,600

3,600

4

6,000

24,000

1,200

---

---

---

7,200

7,200

5

6,000

30,000

1,500

---

---

---

12,000

12,000

6

6,000

36,000

1,800

---

---

---

18,000

18,000

7

6,000

42,000

2,100

---

---

---

25,200

25,200

8

6,000

48,000

2,400

---

---

---

33,600

33,600

9

6,000

54,000

2,700

---

---

---

43,200

43,200

10

6,000

60,000

3,000

16,500

--

16,500

54,000

70,500

11

6,000

66,000

3,300

19,800

---

19,800

60,000

79,800

12

6,000

72,000

3,600

23,400

---

23,400

66,000

89,400

13

6,000

78,000

3,900

27,300

---

27,300

72,000

99,300

14

6,000

84,000

4,200

31,500

---

31,500

78,000

109,500

15

6,000

90,000

4,500

36,000

10,800

46,800

84,000

130,800

16

6,000

96,000

4,800

40,800

13,872

54,672

90,000

144,672

17

6,000

102,000

5,100

45,900

17,557

63,457

96,000

159,457

18

6,000

108,000

5,400

51,300

21,931

73,231

102,000

175,231

19

6,000

114,000

5,700

57,000

27,075

84,075

108,000

192,075

20

6,000

120,000

6,000

63,000

33,075

96,075

120,000

216,075

  Notes : [a] = MBP x 12.
[b] = MBP's paid to date or sum of [a] to date.
[c] = [b] x Bachat Addition Rate of 5.00%.
[d] = After 10 years, sum of
[c] to date.
[e] = After 15 years, [d] x ratio of [d] over 240 x MBP.
[f] = [d] + [e].
[g] = Surrender Factor x [b] less MBP's paid in first year. 100% x [b] in 20th policy year.
[h] = [g] + [f]   Plan Summary  

Entry Age - Grand / Parent - Child

18 - 50 years - 30 days to 17 years

Policy Term

20 years

Premium Pay Term

20 years

Monthly Base Premium

Rs. 400 - Rs. 3,000

Sum Assured

Up to 180 times Monthly Base Premium

Premium Payment Frequency

Annual, Semi-annual, Quarterly and Monthly

 

Entry Age

13 to 40

41 to 50

Sum Assured

180 x MBP

120 x MBP

  With BSLI Bachat (Child) Plan, by saving as little as Rs. 400 per month. you can build a corpus through regular systematic savings and secure your child's future under all circumstances   Surrender Benefit details:   Assuming that premiums are paid annually, and earn 4% rebate, here are the surrender benefits under different premium bands.  

Band

I

II

III

MBP Range (in Rs.)

400 to 599

600 to 899

900 +

Bachat Addition Rate

5.00%

5.25%

5.50%

MBP chosen by you

500

750

1,000

MBP x 12

6,000

9,000

12,000

Surrender Benefit

 

 

 

After 10 years

70,500

106,988

144,300

After 15 years

130,800

200,561

273,336

After 20 years

216,075

333,923

458,642

      Entry Age (years)

18-40

41-50

18-40

41-50

18-40

41-50

Annual Premium paid by you

5,990

6,336

8986

9,504

11,981

12,672

Surrender Benefit / Total Premiums Paid

 

 

 

 

 

 

After 10 years

118%

111%

119%

113%

120%

114%

After 15 years

146%

138%

149%

141%

152%

144%

After 20 years

180%

171%

186%

176%

191%

181%

Equivalent Bachat Addition Rate

 

 

 

After 10 years

3.22%

2.05%

3.47%

2.29%

3.72%

2.52%

After 15 years

5.70%

4.70%

6.10%

5.09%

6.51%

5.48%

After 20 years

7.65%

6.72%

8.17%

7.21%

8.71%

7.71%

Disclaimers
Insurance is the subject matter of the solicitation. This is a non-participating traditional insurance savings plan. All terms & conditions are guaranteed throughout the policy term except for the Bachat Addition Rate which will vary from year to year and be declared by BSLI on April 1st of every calendar year. For more details refer to product brochure. Tax benefits are subject to changes in tax laws. Regd. Office: One Indiabulls Centre, Tower 1, 15th & 16th floor, Jupiter Mill Compound, 841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Reg No. 109 Unique No.: 109N58V01 TRA / 7 / 10-11 / 4065 Version No.: VER 1/July/2010
  UIN No. - 109N58V01

 
   
 
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